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Search Results 0 to 32 of about 33 (some duplicates have been removed)
, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiate
. >> thank you so much. we just got word that the senate republican leader mitch mcconnell will be going before cameras shortly so that could be market-moving as well. we'll wait to see what that is. >> when he speaks, we'll bring him to you. flows into stocks-based mutual and exchange traded funds have posted 8 billion and bonds, on the other hand, have taken less than 1 billion. a bit of a rotation going on here. should investors be putting money to work in equities despite today's selloff? >> the battle of stocks versus bond. with us cnbc's jeff cox and kathy jones from charles schwab. waiting to see what the ten-year note is doing. it's come back sharply now with the buying of stocks here. i mean, there is this either/or going on right now, safety vers versus risks, right? >> doing this all year long, news about the economy or settlement of the fiscal cliff issue, the bond market sells off a little bit and the market rallies. here we are again. hope springs eternal. >> let's say we get a deal in the near term, some sort of a framework deal. does that mean we'll see rates on the treas
cliff deal. and is it mitch mcconnell to the rescue. live in washington on the 11th hour negotiations. >> and did you know about to fall off the dairy cliff? >> juliet: have you seen the prices? >> dave: as high as 8 bucks a gallon for milk. >> clayton: oak ridge boys bush. special number tribute for number 41. "fox & friends" begins right now. >> am i wrong about that don't the have a deep voice? ♪ >> oak ridge boys have been on this show many times on "fox & friends." >> good morning, everyone. >> dave: good morning. juliet huddy celebrating an early new year's eve. is it new year's eve? >> juliet: sparkly shoes and everything. i feel like we are waking up at 4:00 in the morning on saturday i better be festive. >> clayton: that's what woke me up this morning. >> juliet: this is a beautiful set it has inspired me. >> dave: it's spectacular. >> juliet: it is. >> dave: it's fiscal cliff time. couple of days away. rare i wake up and say i'm moderately optimistic but that's what the president said. you are either optimistic or you are not. the president said he is modestly optimistic a
with mitch mcconnell on the floor saying that we are very, very close. we'll get more details from john harwood in a moment, but right now the markets are voting and they're giving thumbs up with the dow up 138 points. nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%. >> look at those stocks go. president obama saying a fiscal cliff agreement is quote, in sight. mitch mcconnell moments ago saying quote, we are very, very close. >> to d.c. and john harwood. he and eamon have been monitoring all day. why are we close but not there yet? what's left, john? >> what's left is the agreement between the two parties on delaying those automatic across the board defense and domestic budget cuts which nobody wants. they deliberately set up so they wouldn't take place. democrats want to defer those for a year. republicans say we're only going to put them off to the extent you can find budget cuts that match the amount that the sequester would have been. now, the republicans are offering two or three months, 60 or 90 days and suggesting cuts. but democrats have not
more time at what is being discussed now. mitch mcconnell and joe biden talked into the wee hours until 12:30 last night and 6:30 this morning. $450,000 as the threshold for couples, $400,000 for individuals over which your taxes would go up about four percentage points. estate tax compromise. this is something democrats want as well because the estate tax is due to zoom up to 55% on estates more than $1 million if they're passed and nobody wants to see that happen. they are trying to work on a compromise. unemployment, insurance benefits. obviously something urgent for millions of people collecting and the long-term unemployed who have been unemployed for quite sometime. delaying that sequester. this is what i'm talking about. they're talking about delaying it perhaps three months. this is the ultimate kicking the can down the road. remember the sequester is what got us to this point to begin with. it was supposed to be trigger, the guiotine hanging over the necks of the members of congress to git them to do something by tonight. we only have about 13 more hours. one more thing to show
spending. senate minority leader mitch mcconnell says he never received a response to a republican offer last night and is reaching out to vice president joe biden to kickstart negotiations with the white house at this point. the senator saying fail to go solved the crisis is simply not an option. >> the consequences of this are too high for american people to be engaged in a political messaging campaign. there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. i want everyone to know i'm willing to get this done. but i need a dance partner. >> a dance partner. meanwhile democrats being led by senate majority leader harry reid who says he's cautiously optimistic about reaching a deal but warns there's not much more negotiating that can be done on his end. >> i don't have a counter offer to make. perhaps the day wears on, i will ble to. i will say that i think that the republican leader has shown good faith. it's just we're apart on pretty big issues. >> that was earlier. let's
. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> mitch mcconnell called on vice president joe biden to be that dance partner. biden has brokered 11th-hour deals with the republican leader in the past. mcconnell's appeal came just hours after the president appeared on "meet the press" and called out republican leaders by name. >> congress has not been able to get this stuff done, not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> nbc's capitol hill correspondent kelly o'donnell is live on capitol hill. kelly o., i'm looking at the clock, we are now 14 hours and 58 minutes from going over the fiscal cliff. let's outline -- >> reporter: but who's counting, right, chris? >> yeah, who's counting? let's go over for people, what remains unresolved? it seems like two weeks ago they were pretty well set on the ba
senate minority leader mitch mcconnell, the top republican in the senate, and vice president joe biden. these are the two players right now. they discussed a possible remedy late into the night, around midnight, we are told, by an aide to mitch mcconnell, and at least at the staff level negotiations began again this morning. the question everyone wants to know, suzanne, of course, is are we going over the cliff? it appears very -- it's sort of unclear at this point. it's difficult to see how we kind of don't logistically and politically at this point, but the president has said he's optimistic, and so have some republicans. >> brianna, finally, what is the drop dead last deadline here in terms of whether or not we know this is going to happen or it's not going to happen? >> reporter: that's interesting because everyone would presume the drop dead deadline is tonight, and obviously to avert some of these tax cuts expiring, and it's not just these income tax rates, it's a bunch of other things as well and these spending cuts, that would be tonight. but the sense i'm getting and the sense
over the cliff. clear previously.en leer the fact that mitch mcconnell is vouched in discussions is encouraging if something can't pass the senate with a lot of republican votes it is not going to pass the house either. i think for the first time we see some constructive engainlment at least. >> sean: i heard a little different story than senator toomey and that is that a lot of what we are seeing told is really for show and the fielding is that the president made up his mind. he wants to go over the fiscal cliff and sees a political advantage to negotiating this in january. what have you heard, sir? >> i watched the president's press conference. basically we were told it was a serious discussion and there was a recognition on the part of president obama and senator reid that they are going to have to it craft a piece of legislation that would get a great deal of support from republicans in the senate because they realize that is the only way something is going to pass in the house. let's be encouraged by the fact that we are finally talking seriously, that there is going to be s
democratic sources saying that republicans specifically mitch mcconnell who is the lead negotiator, what he is proposing is to delay that sequester, the spending cuts for three months, so 90 days. what democrats here on capitol hill want to do is delay it for at least a year. so there is a very interesting dynamic shaping up right now. this probably is a good illustration of that. you you mentioned right at the top that the negotiations are going on now between primarily senate republican leader and the vice president, not the democratic leader. so they're certainly in the loop i'm told in a very constant way, the democrats here on capitol hill. but the fact that they let it be known to us that they're not happy with the idea of a three-month delay. they want it to be longer. isn't just a signal to republicans. it's also a signal to their fellow democrat in the white house, namely vice president joe biden. that's just an example of how intricate, delicate and strange these negotiations are right now as we just get down to the wire. >> yeah. they are rather strange. do we think there's any m
a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that action is necessary. >> so now all eyes are focused on the senate for 11:00 this morning when they do reconvene. there were reports there was major progress overnight for something that could pass on the senate side. the question is whether it can pass on the house side under the leadership of speaker john boehner. i've talked to a couple of republicans this morning who are fairly optimistic that whatever comes out of the senate, whatever that deal is, it will pass the house this afternoon. although hard-core republican anti-tax folks are not going to vote for it. it still would likely have enough votes to pass. that's at least the mood of some
on the political motivations of the people at the negotiating table. you think about joe biden and mitch mcconnell, mitch mcconnell is totally looking at this through a political lens, what is in the best interest of republicans in his view? from what i understand in his view he thinks what's in the best interest of the republican party is getting the tax issue off the table and then having a big knockdown, drag-down fight with the president in six weeks over the debt ceiling. under that scenario, that would tell me, okay, he's likely to want to make a deal. when you look at the actions that republicans threw out that idea of throwing in the social security change and suddenly democrats balked -- and he pulled it from the table. mitch mcconnell wants to make the deal, get the tax issue off the table simply because he thinks having more leverage -- if you leave taxes there, it gives the white house and democrats more leverage in the debt ceiling. even if they get a deal today we have a big fight in the next six weeks. >> if there is a deal today can it about get passed in time to avoid the fiscal c
reid to cobble together the deal. minority leader mitch mcconnell to ensure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor, and leader nancy pelosi to produce the huge number of democrats needed to pass it. but if that plan falls through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> the president's basic package has much more for democrats to like. so don't expect that to get very far. but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiators holed up on capitol hill. the senate comes back into session at 1:00 on sunday. >> jessica yellin, thanks. >>> and with the pressure now squarely on the senate to fix the fiscal cliff, they will lead the talks this weekend. a period of time reid calls, quote, very important, mcconnell says he's hopeful both sides will have a plan to present to their respective members as early as tomorrow. and other republica
mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were in the room for the president's remarks. on a scale of 1 to 10, let's measure the anger perhaps that
with mitch mcconnell. still there are senate democrats some of them who say this tax plan favors the rich. >> if we're going to have some kind of a deal, the deal must be one that really does favor the middle class. the real middle class. those that are making 30, 50, $70,000 a year. that's the real middle class newark. -- america. as i see this thing developing, quite frankly, as i have said before, no deal is better than a bad deal and this looks like a very bad deal the way this is shaping up. >> some other senate democrats we have spoken to here on capitol hill say, look, it's not everything we wanted but it's a good enough compromise we should move forward with it senate republicans, especially in leadership say look, we have struck a deal with the white house and vice president joe biden here, we should vote on this tax part tonight. trace? >> trace: rich edson live for us on capitol hill. thank you. as lawmakers continue working on a compromise, much of the nation getting ready to watch the ball drop in times square. and security in new york city as tight as a drum. a few hours ago
on a bipartisan deal ostensibly with his republican adversary mitch mcconnell. >> -- engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> well, if the senate manages to reach a compromise, the hope is that the house would follow. that's option one. the green one. option two is less certain. president obama reportedly challenged congressional leaders from both parties on friday to come up with a deal better than the one he proposed. the center piece of which is that the top marginal tax rate will increase for those earning $250,000 or more from 35% to 39.6%. that's only on the amount earned above that threshold. obama has told congress either they come up with something better or put his proposal to a vote. he's betting even those who hate the idea of a tax increase on the rich will hate causing america to go over the fiscal cliff even more. okay. option three. that's the red box. that's one where ame
in the hands of the two senate leaders. democratic harry reid and republican mitch mcconnell. they're working on a mini-deal that would prevent a tax increase for roughly 98% of american workers. extend unemployment benefits that are set to expire for some 2 million people. and prevent a huge cut in payments to medicare doctors. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: the 11th-hour effort to get a deal comes after the president met with the congressional leaders at the white house. it was his first such meeting in six weeks. even as mcconnell and reid come to an agreement, there's no agreement it will pass before the end of the year. the agreement represents what the president says is the bare minimums. extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, virtually everybody's income taxes will go up. and even if the income tax cuts are extended virtually all workers are due to see less in their pa
class tax breaks and unemployment benefits if the negotiations fail. republican senator mitch mcconnell is hoping there will be a plan to present today. >>> some sad news from hollywood. harry carey jr. has died. best known for his work in westerns appeared in almost 100 films including ten with john wane. but his career wasn't limited to the silver vene. he served in the u.s. navy during world war ii. he was 91. >>> caught on tape, the terrifying moments when a russian plane hurdled past a runway and sent debris crashing on to a highway in moscow. another driver capturing the scene on his car's dashboard camera. four people onboard the russian red wings flight were killed and four others were injured. the cause of the crash is under investigation. >>> and it's not just the fiscal cliff that could impact your wallet. we'll tell you why something called the dairy cliff could make your grocery bill soar if congress doesn't do something soon. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did
we've got to get this done. >> senate minority leader mitch mcconnell also spoke after their meeting expressing home that the weekend would bring a deal. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation i can make to my conference and the majority leader can make to his conference. and we'll be working hard to try to see if we can get there in the next 24 hours. i'm hopeful and optimistic. >> we're watching that story closely. >>> protesters demanding justice for the young woman who has died now after she was brutally beaten and gang raped on a bus in new delhi earlier this month. our cnn reporters on the ground tell us today's demonstrations have been peaceful. police did tighten security. six suspects in custody including a minor and the bus driver and they're now facing
. >> reporter: with that harry reid and mitch mcconnell launched a last-ditch effort to craft a bipartisan plan to that would at the very least, protect most people from a big tax hike going into effect on new year's day. the senators and their staffs negotiated all day saturday. saturday night republican leader mcconnell made his offer. by this morning, a clear sense of optimism and warnings that failure would be unthinkable. >> there are certainly no breakthroughs yet, but there's a real possibility of a deal. >> if we are not able to reach an agreement, it will be dire. >> reporter: but the morning's optimism turned into the afternoon's pessimism. the senate opened for business at 1:00 p.m. with the ominous prayer from the chaplain. >> look with favor on our nation and save us from self-inflicted wounds. >> reporter: soon democratic leader reed acknowledged he had not been able to make a counteroffer to republicans. >> it's just that we're apart on some pretty big issues. >> reporter: grfrt -- frustrated with the impasse, republican mcconnell said he called vice president biden, urging him t
, then there is negative political effects. now, that's why they've brought in vice president biden, mitch mcconnell, to try to close this thing. and they may close a deal, but there's no guarantee that even any deal they come to an agreement with tonight will actually make it tomorrow. >> and chuck, this congress has, your honor telling us, the lowest approval rating ever, the least productive. what happens when the next congress comes in later this week? >> reporter: well, the bad news is, if you view this as bad news, more of the same. because even if they get this temporary deal on taxes, temporarily buy down the automatic spending cuts, what they have set up is a series of mini fiscal cliffs, if you will, kate. so every three to six weeks, over the next six months, we could be going through nights like this where we're up against the clock and congress has to act and the president -- they have to figure out how to compromise or watch automatic headaches kick in. >> chuck todd is going -- it's going to be a long night. thanks for being with us on wall street today, this final trading day of the
and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws,
: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on those making over $250,000 a year. republicans want a higher income threshold. they want to keep the estate tax from going up. there's still no agreement on what to do about those automatic spending cuts set to go into effect on january 2nd. both sides have said the cost of failure is extremely high. >> if we're not able to reach an agreement, it will be dire. probably at least another million jobs lost, an unemployment rate over 9% and putting us back into recession. >> reporter: vice president biden and mitch mcconnell had several conversations deep into the night. and will continue those conversations this morning. the conver
to at least bring something to the floor. mitch mcconnell knows he can't pass anything, any tax cut for everyone under $1 million. kimberly, that wouldn't even pass the senate. >> juan: allow me to introduce a little sanity to this forum. >> andrea: yes, juan. >> juan: say it's incredit to believe me he would say they're far apart. they're not far apart. boehner wants $1 trillion to new revenue. closing loopholes or deduction or whatever. obama is $1.2 trillion. that is not far apart. in terms of cut, boehner said one for one. $1 trillion in terms of the spending cuts. obama is 1.3 more on boehner -- let me finish. obama has stimulus spending built in. they are not far apart. [ overtalk ] >> eric: boehner can get $1 million and below -- just dance is because -- listen, you can't blame that on democrats. republicans would not come in -- >> andrea: how dare they do that to a guest. >> disgusted. >> kimberly: welcome to the program. >> we're out of time now. >> kimberly: time for a word from our sponsors. political fall-out. people are saying, blame the democrats and republicans. the d
, mitch mcconnell. when that happens we'll go live to the senate floor but a spokesman for john boehner says senator reid should talk less and legislate more. the house passed legislation to avoid the fiscal cliff. senate democrats have not. if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it'
on mitch mcconnell's office to see if vice president biden is swinging by today and one of the ways that the two sides may be having a form of a conversation today given the fact that we believe absent the calls, the president put out to the leaders, the house and the senate, that there's been no more conversations absent those between senior staff today. >> viqueira, a little birdie around the building said there's a pool that some people are in betting on when this thing will be wrapped up. and i heard you have january 10th. i would like to know your thoughts on why you picked january 10th. i would like to know what is the outlier date in this pool and if you have any intel on who else is in the pool. >> reporter: well, i mean, i'm sure i take no satisfaction in being right in this. there's a lot at stake here and certainly we look at gambling on legislation so there's money wagered. having said that, toure, i mean, you know, there's just too many ways to lose votes in this thing and not enough to gain votes in this thing and given the dynamic, the bedrock dynamic of the house of
and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor after the house comes back on sunday. and then we would get all of this behind us before new year's eve. how likely does that sound? not so likely. >> you and i are both kind of laughing about that one. so the stumbling block, of course, over raising taxes on the
, mitch mcconnell have made it clear, you want $1 trillion of more debt ceiling, because that's what the president is running, $1 trillion more debts, you have to cut it at the same time. they won it a year ago. they'll win it in the future. this is a long fight. it's four years of a fight. it's not one week of a fight. to your earlier question, does the president want to take us over the cliff? i think now he does. the reason is he needs an excuse for the next four years of failure. blaming it on bush doesn't work very much. the regulations and spending he's put on the economy for the next four years is going to put us in recession regardless of the fiscal cliff. >> to be fair, i'm told there are a number of republicans, especially in the house, who want to go over the cliff for the reason i explained, that they'd much rather vote for a tax cut than a tax increase because they don't want to break your pledge. grover, thank you very much. appreciate it. >> no one should break their pledge. >> merry christmas. thank you, grover. >> merry christmas to you. >> ahead on "starting point,"
Search Results 0 to 32 of about 33 (some duplicates have been removed)